Through export proceeds tracking framework, exporters are declaring an estimated $30m into the Central Bank per day which means the country has increased Dollar liquidity.
Lusaka, Feb. 20 – Economist Yusuf Dodia has projected a further appreciation of the Kwacha against the United States (US) Dollar and other foreign currencies, highlighting that the currency could hit K15 to US$1 in the last half of this year.
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In an interview in Lusaka yesterday, Mr. Dodia attributed the appreciation of the Kwacha to an intervention by the Bank of Zambia to introduce an export proceeds tracking framework.
“Through this framework, exporters are declaring an estimated $30million into the Central Bank per day which means the country has increased Dollar liquidity on the local market hence the Kwacha’s appreciation. Key to sustaining this intervention for the next few months could see us get to a level of K15 to a Dollar which will greatly also positively impact on the rate of inflation,” Mr. Dodia explained.
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